Burkett Asset Management Ltd Buys Shares of 24,772 Restaurant Brands International Inc. $QSR

Key Points

• Burkett Asset Management opened a new position in Restaurant Brands International, buying 24,772 shares valued at about $1.69 million. The stock now makes up 1.7% of the firm’s portfolio.
• Insider selling was notable, with CFO Sami A. Siddiqui and insider Jacqueline Friesner both selling shares on March 16. Over the last 90 days, insiders have sold 350,000 shares worth about $26.2 million.
• Restaurant Brands International reported strong quarterly results, beating EPS and revenue estimates, and analysts currently view the stock as a Moderate Buy with a consensus price target of $83.54. The company also declared a quarterly dividend of $0.65 per share, implying a 3.5% yield.

Burkett Asset Management Ltd bought a new stake in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 24,772 shares of the restaurant operator's stock, valued at approximately $1,693,000. Restaurant Brands International comprises 1.7% of Burkett Asset Management Ltd's investment portfolio, making the stock its 20th biggest position.

Several other hedge funds have also recently added to or reduced their stakes in the company. Capital World Investors lifted its stake in Restaurant Brands International by 7.7% during the fourth quarter. Capital World Investors now owns 43,525,570 shares of the restaurant operator's stock worth $2,969,819,000 after purchasing an additional 3,095,167 shares during the last quarter. Vanguard Group Inc. lifted its stake in Restaurant Brands International by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 15,983,585 shares of the restaurant operator's stock worth $1,090,684,000 after purchasing an additional 344,066 shares during the last quarter. EdgePoint Investment Group Inc. lifted its stake in Restaurant Brands International by 15.4% during the third quarter. EdgePoint Investment Group Inc. now owns 14,903,208 shares of the restaurant operator's stock worth $955,855,000 after purchasing an additional 1,983,354 shares during the last quarter. Baupost Group LLC MA lifted its stake in Restaurant Brands International by 103.8% during the third quarter. Baupost Group LLC MA now owns 8,252,862 shares of the restaurant operator's stock worth $529,337,000 after purchasing an additional 4,203,300 shares during the last quarter. Finally, Fiera Capital Corp lifted its stake in Restaurant Brands International by 38.2% during the fourth quarter. Fiera Capital Corp now owns 6,835,522 shares of the restaurant operator's stock worth $466,595,000 after purchasing an additional 1,889,359 shares during the last quarter. Institutional investors own 82.29% of the company's stock.

Insider Transactions at Restaurant Brands International

In other news, CFO Sami A. Siddiqui sold 40,000 shares of Restaurant Brands International stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $74.51, for a total value of $2,980,400.00. Following the transaction, the chief financial officer owned 35,766 shares in the company, valued at approximately $2,664,924.66. The trade was a 52.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline Friesner sold 30,000 shares of the business's stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $74.61, for a total value of $2,238,300.00. Following the transaction, the insider owned 165,727 shares in the company, valued at approximately $12,364,891.47. This represents a 15.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 350,000 shares of company stock valued at $26,198,650. 1.22% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on QSR. Scotiabank lifted their price target on Restaurant Brands International from $81.00 to $83.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 7th. BMO Capital Markets dropped their price target on Restaurant Brands International from $83.00 to $81.00 and set an "outperform" rating for the company in a research note on Friday, February 13th. Royal Bank Of Canada lifted their price target on Restaurant Brands International from $83.00 to $90.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 21st. Guggenheim lifted their price target on Restaurant Brands International from $80.00 to $85.00 and gave the stock a "buy" rating in a research note on Tuesday, May 26th. Finally, Stifel Nicolaus raised Restaurant Brands International from a "hold" rating to a "buy" rating and lifted their price target for the stock from $68.00 to $90.00 in a research note on Monday, March 2nd. Seventeen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.54.

Restaurant Brands International Stock Up 1.0%

QSR opened at $73.90 on Friday. The company has a market cap of $25.67 billion, a P/E ratio of 26.02, a P/E/G ratio of 1.90 and a beta of 0.49. The business's 50-day moving average price is $76.59 and its 200-day moving average price is $72.51. The company has a current ratio of 0.99, a quick ratio of 0.90 and a debt-to-equity ratio of 2.55. Restaurant Brands International Inc. has a 12 month low of $61.33 and a 12 month high of $81.96.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last released its quarterly earnings data on Wednesday, May 6th. The restaurant operator reported $0.86 EPS for the quarter, topping the consensus estimate of $0.83 by $0.03. The firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.24 billion. Restaurant Brands International had a return on equity of 32.80% and a net margin of 9.96%.The company's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.75 earnings per share. On average, equities analysts expect that Restaurant Brands International Inc. will post 4.07 EPS for the current year.

Restaurant Brands International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 23rd will be issued a $0.65 dividend. The ex-dividend date is Tuesday, June 23rd. This represents a $2.60 annualized dividend and a dividend yield of 3.5%. Restaurant Brands International's payout ratio is currently 91.55%.

Restaurant Brands International Profile

Restaurant Brands International Inc NYSE: QSR is a global quick-service restaurant company formed through the combination of established brands. The company's principal holdings include Burger King, Tim Hortons and Popeyes, each of which operates under its own brand identity and menu. Restaurant Brands International's business is centered on developing and expanding these franchised restaurant systems, supporting franchisees with brand management, supply chain coordination, and marketing programs.

RBI's restaurants offer a range of quick-service food and beverage products: Burger King is known for its flame-grilled hamburgers and sandwiches, Tim Hortons for coffee, baked goods and breakfast items, and Popeyes for Louisiana-style fried chicken and seafood.

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